Article: Hungary: Hungarian Central Bank Cuts Key Rate to Lowest in 17 Months.

Byline: babalu03

Hungary s central bank cut its benchmark interest rate to the lowest in 17 months to help jolt the nation out of its worst recession in almost two decades as a steep decline in domestic demand keeps inflation in check.

The Magyar Nemzeti Bank lowered the two-week deposit rate to 8 percent from 8.5 percent, matching the forecast of all 17 analysts in a Bloomberg survey. Monetary policy makers voted for the 50 basis-point cut with an overwhelming majority over a reduction to 7.75 percent, central bank President Andras Simor told reporters in Budapest today.

The bank has shaved 1.5 percentage points off the key rate since July on ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!